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The United States should abolish the capital gains tax
The United States should abolish the capital gains tax.
Abolishing capital tax gains will make it possible to close the carried interest tax loophole.
Abolishing capital gains tax leads to economic growth.
Taxes in the US are too high already. Thus, taxes should be lowered instead of increased (especially the high capital gains tax).
Abolishing capital gains tax favors labor and savings instead of capital income.
State revenues will decrease if capital gains taxes are abolished, which will decrease the amount of money students pay for college, as well as force colleges to increase tuition.
Capital gains taxes mostly affect the wealthy. Abolishing them is not beneficial for equality in the country.
It is unethical for anyone (including government) to take property from people without their consent. Capital gains taxes should be paid by those who want to pay it, and the amount, as a percentage, should be dictated by those who decide to pay.
People who make a living off investing would pay no income tax at all. That would constitute an unfair system with respect to the people who derive their income from a salary.
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